The Editor of a Major Academic Book Publisher Claims That

question 70

Essay

The editor of a major academic book publisher claims that a large part of the cost of books is the cost of paper. This implies that larger books will cost more money. As an experiment to analyse the claim, a university student visits the bookstore and records the number of pages and the selling price of 12 randomly selected books. These data are listed below. $$\begin{array} { | c | c | c | } \hline \text { Book } & \text { Number of pages } & \text { Selling price (\$) } \\\hline 1 & 844 & 55 \\\hline 2 & 727 & 50 \\\hline 3 & 360 & 35 \\\hline 4 & 915 & 60 \\\hline 5 & 295 & 30 \\\hline 6 & 706 & 50 \\\hline 7 & 410 & 40 \\\hline 8 & 905 & 53 \\\hline 9 & 1058 & 65 \\\hline 10 & 865 & 54 \\\hline 11 & 677 & 42 \\\hline 12 & 912 & 58 \\\hline\end{array}$$ Can we infer at the 5% significance level that the editor is correct?

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Definitions:

Active-engaged

Being involved, committed, and energetically participating in a task or activity.

Kellerman's Typology

A framework developed by leadership scholar Barbara Kellerman, categorizing followers in an organization based on their level of engagement, from passive to active roles.

Conservation

The protection, preservation, and mindful utilization of natural resources and environments to ensure their sustainability for future generations.

Rally

A recovery in the price of a stock or market after a period of decline.